May 28, 2020 9:29 AM ET
iCrowd Newswire – May 28, 2020
The Global Web Analytics Market is estimated to grow at a CAGR of 19.3% during the forecast period 2019-2026. The market research study presents that the web analytics industry accounted $2.63 billion in the year 2018 and is estimated to reach $10.73 billion by the end of the year 2026.
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Web analytics is used to monitor and track the interaction pattern of users with website. The process involves reporting, analysis and collection of web data generated from the interaction pattern. Web analytics help marketers to enhance their marketing strategies on the basis of geographical basis.
The web analytics industry is driven by various growth factors such as rise in demand of mobile analytics, growth in marketing automation and increase in shift to data driven businesses. Whereas, shortage of skilled labours and data privacy and cyber security are some growth hindering factors that impact the market growth to a certain extent. On contrary, increase in cloud adoption and growth in predictive web analytics offers lucrative market opportunities for the key players included in the global web analytics industry.
Segmentation Overview of the Global Web Analytics Market
The global web analytics market is segmented on the basis of deployment, application and end-user. These major market segments are further categorized into various sub-segments to study the market in detail.
The Deployment Segment of the Global Web Analytics Market is Sub-Segmented into:
The Application Segment of the Global Web Analytics Market is Sub-Segmented into:
- Social Media Management
- Targeting and Behavioural Analysis
- Display Advertising Optimization
- Multichannel Campaign Analysis
- Online Marketing
The End-User Segment of the Global Web Analytics Market is Sub-Segmented into:
- Banking, Financial Services, & Insurance (BFSI)
- Travel & Hospitality
- IT & Telecommunications
- Media & Entertainment
Geographical Overview of the Global Web Analytics Market
The global web analytics market is segmented on the basis of various geographical regions, such as:
- North America (Canada and U.S.)
- Europe (Germany, France, UK, and Rest of Europe)
- Asia Pacific (Japan, China, India and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
As per the regional study, the North America web analytics market accounted for ~30% of the market share in the global marketplace in the year 2018. The regional market is estimated to dominate throughout the forecast period. The regional dominance is attributed to well-developed IT infrastructure and early adoption of automation processes in the region. While, the Asia-Pacific web analytics market is estimated to grow at the fastest CAGR of 21.5% during the forecast period 2019-2026, owing to high penetration of smartphones in the region coupled with increasing in number of internet users.
Market Competition Insights
IBM Corporation, Hotjar Ltd., Google LLC, Facebook Inc., AT Internet, Adobe Systems Incorporated, Webtrends Inc., Splunk Inc., SAS Institute Inc. and Microsoft Corporation among others are some major players included in the research study of the global web analytics market. The market players are adopting various competitive strategies to withhold the large market share in the global web analytics market.
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Keywords: Web Analytics Market, Web Analytics Market Size